LatinNews Daily - 17 February 2021

In brief: Colombia’s 2020 economic contraction confirmed

* Colombia’s national statistics institute (Dane) has reported that the country’s economy contracted by 6.8% in 2020 as a result of the coronavirus (Covid-19) pandemic – the largest recession on record. The same figures show that GDP contracted 3.6% year-on-year in the fourth quarter of 2020 – an improvement on the 9% contraction reported in the third quarter and 15.8% contraction registered in the second. The sectors to have registered the biggest contractions in 2020 were construction (-27.7%) and exploitation of mines and quarries (-15.7%).

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